Hi guys, just got accepted into your dream job? Don’t forget to make a personal finance planner. What for?
Let’s just say that I’ve learned from my own personal life. You don’t want to end up jobless without any savings left to survive, do you?
Well, I’m sure the temptation to spend your first paycheck to celebrate is very strong, maybe it’s okay for the first paycheck, but for the next month and after that, you should start to consider having a monthly finance planner.
What Are the Benefits of Having a Personal Finance Planner?
But first, let’s discuss the importance of a financial planner. I know if you are a young man or woman in your 20s, retirement is still a long way to go, but you have to start from youth.
Why? Because the earlier you start to make a personal finance planner, the more money you could enjoy in your retirement age. Just imagine what kind of retirement you want to have.
Exciting, right? Just by making a monthly finance planner, you could plan your future in the retirement area.
Imagine living a successful retirement to enjoy for you and your family, you can live in a great house and have savings that allow you to buy anything you want. Tempting, right?
8 Steps to Consider for Your Personal Finance Planner
But first, let’s get going with steps to consider before making your personal finance planner.
- You have to check your current finances, find out which one is the needed monthly expenses, such as electricity bill, water bill, and other necessary expenses. And also make a list and check what are your unnecessary expenses. Like shopping, hanging out, buying things you don’t need, and the list continues. You can make a finance planner template to separate the necessary and unnecessary expenses.
- You have to decide the short-term and long-term goals that you want to achieve. Short-term goals such as buying a car, or just planning to have at least $200 a month, these short-term wills help you to continue your financial planner. But the long-term goals will keep you on track with your personal finance planner.
- You have to start making plans to be debt-free. Remember you won’t be able to save your income if you have a lot of debts, it will weigh you down. So, find a way for you to be debt-free, whether you make a loan to cover all the debts, that way you can focus on only one debt.
- Save some of your money for an emergency fund. You will never know what to expect in the future, whether you will always be healthy enough to work or not. Just in case you are fired from your job, if you have an emergency fund, you can still survive until the savings run out. But if you don’t have one, I can’t even imagine how it will be. Put your emergency funds in your finance planner template, so you won’t forget to save some of your income for it.
- Do not ignore estate planning. Why? Because it’s not just for wealthy people, but it’s for your family’s protection just in case you are not around. You can put healthcare directives, power of attorney, last testament, and will or even trust fund.
- Consider making a move of investing in your future. Of course, you have to consider these several basic ideas, like desired retirement age and lifestyle savings rate, and current health.
- You have to start to insure yourself from a young age, find out what kinds of insurance you need.
- After considering all the things above, then the next step is to make a commitment to actively track the progress. You can look for a finance planner printable.
If you got confused and didn’t know how to make a finance planner template, then you can search for a finance planner printable.
Just in case you forget about your goals and financial plans. So have fun deciding on your personal finance planner!